Samwise Quick Reference Handbook
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Sam any new updates on Nvidia. it looks like nothing makes it go down. With the earnings coming up in a little over a week it looks like it’s going to breakout? Any thoughts?
yes can we have a bit of analysis on Nvidia please?
third
this bull flag can also be invalidated right?
it’s just the low hourly rsi makes a mini breakout more likely right now
is this right?
Hello Sam, Could you clarify whether the scenarios and probabilities are clearer and more modified on QQQ and NVIDIA than they were several weeks ago, and in particular:
1) 8% correction of QQQ: was 66%
2) 12% correction of QQQ: was 16%
3) correction of more than 14% of QQQ: was 16%
Thanks for your insight.
Karl
from a previous article by Sam with also comments
This is just my opinion, and I would be totally happy if @Sam decides to respond by obliterating it 🙂
With Nvidia set to report its quarterly earnings next week, I suspect that any retest is ultimately going to end up being the final nail in the coffin for NVDA’s current rally (regardless of the outcome of the retest). This is because the earnings report is likely acting as a blocker that is currently preventing the price of NVDA from rising too much higher, and if the price of NVDA rises (or even maintains its current price) through & and beyond the date of NVDA’s earnings report, it will trigger a profit-taking sell off immediately afterwards.
So if a retest occurs that fails to achieve incremental new highs, then NVDA most likely corrects (or at least pulls back notably) because it signals to investors that the rally might truly be over. But if the retest successfully achieves a record new ATH, the amount of profit-taking that will occur shortly after the earnings report comes out will most likely lead to panic selling, thereby leading to a pullback or a correction.
Gap down! Setting up for oversold bounce
If we have a good 3-4% pullback down to $560-$565, does that end that segment (even if there was no real retest here) and set up the final retest before a correction?
3-4% down would probably kill the retest.